With ongoing unemployment claims soon to be 3 times higher than the previous record set in 2009 and the blanket forbearance pledge in the CARES Act, the percentage of homeowners not making mortgage payments has surged to previously unimaginable levels at an even more unimaginable pace.
Source: Kevin Litwicki MBSLIVE
In Response to Mortgage Market Concerns, Government Says "Take a Number!"
Mortgage Market Still Waiting For Help
While some aspects of the housing/mortgage market have stabilized over the past few weeks, we’re still waiting for some important guidance about the path ahead.
Source: Kevin Litwicki MBSLIVE
Mortgage Market Still Waiting For Help
Finally a Glimmer of Hope For Mortgage Market Chaos
Just as the industry was coming to terms with unprecedented market volatility due to coronavirus, the details of the CARES Act (the coronavirus rescue/stimulus/relief bill) presented their own set of challenges. For some lenders and borrowers, these challenges are an even bigger deal than the recent market movement.
Source: Kevin Litwicki MBSLIVE
Finally a Glimmer of Hope For Mortgage Market Chaos
Are We In The Midst of Another Mortgage Meltdown?
Things are changing rapidly in the mortgage market. Almost overnight, loan programs have disappeared, interest rates are all over the place, and more than a few lenders are closed for business indefinitely. All this despite the Federal Reserve buying more than $100 billion / week of mortgage debt. Is this another meltdown?
Source: Kevin Litwicki MBSLIVE
Are We In The Midst of Another Mortgage Meltdown?